Stellantis CEO sees eventual US EV shift, says auto industry becoming more regional

Stellantis CEO: US EV Shift Will Be Slower, Auto Markets Grow More Regional

Stellantis CEO Discusses US Electrification and Global Auto Market Trends

US Market’s Slow Transition to Electric Vehicles

PARIS, Oct 13 (Reuters) - The US auto market will eventually embrace electrification despite a slow uptake of electric vehicles so far, Stellantis CEO Antonio Filosa said on Tuesday, predicting the shift will happen more slowly than in other regions.

Speaking at an event on the sidelines of the Paris motor show, Filosa said EVs accounted for 7% of US auto sales this year, unchanged from five years ago.

Regulatory Influence and Consumer Preferences

"It has been a bubble driven by regulation. But then, when the administration has decided to deregulate, the consumers have been preferring other powertrains", he said.

Range-Extender Technology Gaining Interest

For Stellantis, which counts North America among its key markets, interest is growing in the US for range-extender technology in large pickups and SUVs.

It is "not regulation driven, it's customer driven", Filosa said.

Outlook for Electrification in the US

Despite the slower pace of adoption, Filosa said he "truly" believed electrification would eventually take hold in the US.

"The level of magnitude and the speed of transition is going to be lower for sure than other regions."

He said Stellantis would be able to draw on lessons learned from Europe's EV rollout as demand develops in North America.

Regionalization of the Global Auto Industry

Filosa also said the automotive sector was becoming less global as trade barriers reshape markets.

"The recent trade regimens around the world have triggered the process of regionalisation. So, what was the global industry before, now it's less global and more regional," he said.

Adapting to Local Preferences and Global Technology Trends

As a result, automakers need to focus more closely on local customer preferences and regulations while maintaining global scale, particularly in technology, which is playing an increasingly important role in the industry.

"Techs are important, so it's very important for the companies to adapt to the trend and find a way. Our way is partnerships. So we see so many important partnerships that we can explore," he said.

(Reporting by Giulio Piovaccari and Gilles Guillaume. Editing by Mark Potter)